Indian Oil Corp to receive first ever U.S. crude import in October

A woman walks past a logo of Indian Oil outside a fuel station in New Delhi

Indian Oil Corp, the country`s largest refiner, has purchased its first ever crude oil from the United States to be delivered in early October, a senior company official said on Monday.

IOC bought 1.6 million barrels of U.S. Mars crude and 400,000 barrels of Western Canadian Select that will be delivered onboard a Very Large Crude Carrier (VLCC), IOC`s head of finance, A.K. Sharma, told Reuters.

PetroChina was awarded the tender to sell the cargoes, trade sources said.

Click HERE to see live market prices of Indian Oil Corp.